Starting Gun Fired In Race To Acquire Beam Global's Brands

US consumer goods group Fortune Brands, which owns Beam Global Spirits & Wine and also has interests in golf and home hardware, has announced it is to split itself into three separate units in an attempt to unlock shareholder value. The move will see the firm spin off its home and security business for an estimated US$3bn and its golf business for an estimated US$1.2bn. The decision comes after the firm was put under pressure by activist investor Bill Ackman, whose investment vehicle Pershing Square Capital Management has an 11% stake in the company and is likely to culminate in

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